Tyler Technologies (NYSE:TYL) Upgraded to Buy at StockNews.com

Tyler Technologies (NYSE:TYL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

TYL has been the subject of a number of other reports. DA Davidson restated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Barclays boosted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Truist Financial restated a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Price Performance

Shares of NYSE TYL traded down $12.70 during mid-day trading on Thursday, reaching $569.12. 281,733 shares of the company were exchanged, compared to its average volume of 249,948. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31. The company’s 50 day moving average price is $599.42 and its 200 day moving average price is $597.41. The stock has a market capitalization of $24.53 billion, a PE ratio of 93.91, a PEG ratio of 4.93 and a beta of 0.80. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Sell-side analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock worth $8,688,030 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the period. Sierra Ocean LLC bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. grew its position in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the 4th quarter worth about $40,000. Finally, OFI Invest Asset Management purchased a new position in Tyler Technologies during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.